How to adjust the number of blog posts on homepage?

My blog posts appear on my "homepage" and I want to only show the most recent 5 posts. I have updated the settings, but every single post still appears. I have checked the support forums and can't find out how to adjust this...please help! Thanks!

Have you set that here?
Settings > Reading
Blog pages show at most __ posts
Have you also disabled infinite scroll on that same page?
To infinity and beyond __ Scroll Infinitely
(Shows 7 posts on each load)
"save changes"